Florida Condo Market Slows Due to Overpriced Listings, Not Systemic Weakness

A senior real estate executive says the widely reported weakness in the Florida condo market is overstated because overpriced listings distort the data. At the same time, well-priced properties continue to sell at a steady pace.

The Statistical Distortion

Florida’s condominium market has attracted negative headlines for over a year: prices are falling, listings linger unsold, and buyers are advised to steer clear. But Chris Anthony, Senior Vice President at ONE Sotheby’s International Realty, contends that this narrative paints an inaccurate picture of what’s actually happening.

Anthony points out that a significant share of condos on the market are priced higher than what current buyers are willing to pay. “If you take away the twenty percent of condos that are overpriced substantially, the condo market is still a buyer’s market,” Anthony says. Well-presented, appropriately priced condos are still selling, while those with inflated prices or dated features tend to sit.

Anthony explains that this overpricing skews the data used to describe the market. When analysts aggregate all condo listings and sales, they include both realistic and unrealistic asking prices. The result is headline statistics that suggest a broader market freeze, even as many well-priced condos transact without unusual delay.

Geographic Variation in Market Performance

Market performance varies across Florida. Anthony says the East Coast is performing better than the Gulf Coast and parts of Central Florida. “On the east coast of Florida, yes, it’s exaggerated,” he says of the crisis narrative. “There are other places I don’t know as well that are struggling a lot more. But if you look at the analytics, the East Coast of Florida is still powerful.”

This distinction matters for both buyers and sellers. If the entire market were in crisis, it would make sense to avoid condos altogether. But if the main issue is an overabundance of overpriced listings, buyers who focus on well-priced properties can still find good opportunities. Sellers, meanwhile, need to set realistic prices and invest in strong marketing to compete.

Anthony singles out new development condos as an example. “Luxury condos in new developments are selling quickly. We’ve got a lot of movement there,” he says. For new projects with solid construction and proper inspections, sales are brisk. These properties are not experiencing the long holding periods seen with some resale units, reinforcing the idea that pricing and positioning, not the condo category itself, are the real challenges.

Why Positioning and Pricing Matter

Anthony believes the distinction between a true market crisis and a pricing problem carries significant implications for strategy. “It’s the condition and the position,” he explains, describing ONE Sotheby’s approach to listings. The market is not failing condos as an asset class—it is penalizing those that are overpriced or poorly presented.

This indicates a functioning market, where buyers reward accurately priced and well-prepared properties while ignoring those that do not meet current standards. For sellers, the message is clear: pricing discipline and professional presentation are essential. Ignoring market signals leads to stagnant listings and price cuts.

Anthony says his company’s strategy is to prepare clients for the realities they’ll face, from inspection issues to insurance requirements to honest pricing feedback. “The key is sitting down with your future buyer and having a full consultation,” he says. By setting realistic expectations up front, buyers and sellers avoid surprises and can move forward with confidence.

Understanding the Impact of Market Narratives

Anthony warns that market narratives can create their own momentum. When a segment is labeled “troubled,” buyers hesitate, sellers become unsure about pricing, and agents may pull back effort. This creates a cycle in which the market appears to weaken—not because of fundamental problems, but because participants react to headlines.

Conversely, understanding the fundamental drivers of price and demand allows buyers and sellers to make more rational decisions. For buyers, this means recognizing that many well-priced condos in strong markets are available at prices more attractive than in recent years. For sellers, success is still possible if they are realistic about value and willing to invest in preparation and marketing.

Industry Adaptation: The Advisor Model

In response to these market complexities, ONE Sotheby’s International Realty has shifted from a traditional sales model to an “advisor” approach, as Anthony calls it. “We don’t even call our agents salespeople anymore. We call them advisors,” he says. The focus is on guidance and expertise, helping clients navigate both market realities and the noise of negative narratives.

The company also prioritizes experience when hiring, choosing not to bring on new agents without a track record. “We don’t really hire new to the business agents at our company, because we want you to have a track record,” Anthony explains. This ensures clients work with professionals who understand how to read the market and position properties for success.

Looking Ahead: Shifting from Narrative to Nuance

Public perception of the condo market will shift depending on how effectively professionals explain the difference between overpriced inventory and underlying demand. As long as media coverage and market statistics focus on averages that include unrealistic listings, buyers and sellers may continue to misunderstand the actual state of the market.

For now, Anthony argues that the Florida condo story is less about systemic weakness and more about the need for accurate pricing and honest communication. Buyers willing to look past the headlines—and sellers who adapt to current realities—can still find success in a market that, beneath the noise, is functioning as it should.